Increased cash back levels offered on Abbey card : Credit Card Guide

Increased cash back levels offered on Abbey card

Credit card providers in the UK have been challenged when it comes to their credit cards rewards, after one High Street lender cranked up the level of cash back it offers on its cash back credit card.

Abbey is now offering both new and existing credit card customers the chance to earn 5% cash back when they use their credit cards to make purchases at major supermarkets in the UK. The cash back level of 5% applies to the first £1000 spent at the supermarket, which means that customers could earn up to £50 cash back in total just on their grocery shopping.

The cash back offer is likely to net an impressive number of new customers for Abbey. With the average household spending around £200 per month on supermarket shopping it could take just five months for many cardholder to earn the full level of cash back.

With Christmas coming up as well, consumers will be able to enjoy the option of getting their gifts from the supermarket and earning their cash back in that way. Cash back is credited back on to the customer’s card. There are also a number of other benefits available with the Abbey card, and this includes twelve months interest free credit on balance transfers and three months interest free credit on other purchases.

One industry professional stated: 'If, as it has promised it will, Abbey consistently delivers deals that appeal to the mass market then the card could well build up a reputation as a good one to opt for if you're looking for cashback.' Another said: 'Almost all of us will be spending £1,000 at supermarkets between now and the end of January, so an extra £50 will come in very handy. Abbey says this is the first of many credit card offers, so I look forward to seeing what it comes up with for the start of February.'

Tom Smith
3rd October 2007

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